Brownfields Re-Development. A Heads-Up to Investors and Their REALTORS®.

Heads-Up Investors there's a new trend in an old place.  A collaborative process for identifying and prioritizing brownfields for assessment for future use is about to get underway all across the USA.. Could this effort signal a trend in the real estate investment market? From where we stand, it looks that way. In fact, this effort can mean value-added opps for real estate professionals and investors alike.

Take, for example, a pilot project scheduled to take place in the Greater Asheville, North Carolina Area

It will include a region-wide inventory of brownfields. Here in the Asheville area, we expect Phase I   and Phase II environmental assessments of properties in the French Broad Riverfront area in Asheville, Phase I and Phase II assessments of the ice facility and the former tannery site in the Asheville target area and a Phase II environmental assessment of the former wood treating site.

Preparation and cleanup plans, and reach out to the community are an integral part of the project.

EPA is working hand-in hand with the Land-of-Sky Regional Council for this Brownfields Assessment Pilot Project.The Land-of-Sky Regional Council reports that it "represents Buncombe, Henderson, Madison, and Transylvania counties (population 344,472) in western North Carolina," and shares a bit of history...

According to Land-of-Sky, throughout " the first half of the 1900s, road transportation began to eclipse the railroad and diverted traffic away from river basins, negatively impacting the timber, textile, tanning, and paper milling industries. Numerous factories and mills were forced to close due to poor economic conditions. Many of these old properties remain neglected or underused due to real or perceived contamination."

FYI Investors:  Look at the Smart Growth  Plan in the Greater Asheville Area for excellent development opportunities. Land of-Sky has already targeted three sites of potential interest to you.

There is a 2.3-acre ice-distribution warehouse and a 1-acre former tannery, both in the French Broad Riverfront  area of Asheville.

A bit of history....Early in the 1890's industry took  notice of the prime, flat real-estate to be found near the French Broad and the Asheville Tannery, built circa 1896 and the Carolina Coal & Ice Company  (see photo at top) set up shop there. The Carolina Coal and Ice Company was founded in 1890. It became Carolina Fuel Company and, after building an ice plant on Lyman Street, the company joined with another group on Riverside Drive.

My favorite photographer and I went out to explore this brownfield areatoday. Look for a photo essay on this very interesting subject in the near future, but in the meantime, here are a couple of shots of the area that might interest you. What do you think about the looks of this area? Note River and Distant Mountains. There is aleady a residential re-development project just above where we took this shot. (See my earlier blog for photos)

 A vacant former wood treating facility in the Town of Fletcher is also under consideration, and Land-of-Sky also reports that "additional target properties may be assessed after a region-wide inventory of brownfields is completed...."

 So stay tuned! ..and maybe you , too will notice
the Carolina Blue sky 
reflecting possibility.

 For further information, including specific Pilot contacts, additional Pilot information, brownfields news and events, and publications and links, visit the EPA Brownfields web site. And see my earlier report ...

Resources: You can visit the EPA Region 4 Brownfields web site at: www.epa.gov/brownfields EPA Home

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